When the term relates to a fork, it refers to a rigid fork that has a longer than standard axle to crown measurement, as cce stated a standard length for is 395mm axle to crown. 410 mm is roughly comparable to a suspension fork with a whopping 40mm travel. A suspension corrected frame has geometry that has been adjusted to be compatible with a suspension fork. When suspension forks first came out, people installed them on frame that were designed for rigid forks, and it raised the front end a little bit, slacking the angles slightly, thus affecting the handling. When bike manufacturers realized shocks weren't just a fad, they changed the geometry of their frames to be more compatible with the front suspension.
A good example of a brand with two lengths of rigid forks is Kona. I think it was around 1995, when they offered some of their bikes (Kilauea, Lava Dome, etc.) with either a front shock, or a rigid suspension corrected P2.